LG Electronics and Magna establish a joint venture for electric vehicle powertrain [사진=LG전자 제공]
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The rise of large-cap stocks was remarkable while the KOSPI settled at the 2870 line and reached the highest point.
According to the Korea Exchange on the 30th, the KOSPI 200 index closed at 389.29, up 8.02 points (2.10) compared to the previous trading day. The KOSPI 200 index rose 12.66% this month alone. This figure exceeds the KOSPI increase rate (10.8%) over the same period.
In particular, large-cap stocks, such as LG Electronics and Samsung Electronics, which have favorable benefits, have concentrated their buying trend. Foreigners and institutions focused on buying LG Electronics, while individual investors were buying Samsung Electronics. As of this day, LG Electronics is changing the reported price for 3 consecutive trading days and is on a high rise. LG Electronics finished the transaction at 135,000 won, an increase of 3500 won (2.66%) compared to the previous trading day. LG Electronics also wrote a new 52-week report price, rising to 136,000 won during the market. After the news of the establishment of the joint venture, the stock price soared 46.42% in a week.
Samsung Electronics also recorded the reported price on this day and achieved ‘80,000 electrons’. Samsung Electronics finished the transaction at 81,100 won, up 2700 won (3.45%) compared to the previous trading day. Samsung Electronics also broke the reported price by soaring to 81,300 won during the market.
Foreigners and institutions were responsible for LG Electronics’ share price rise. Foreigners and institutions raised the stock price by net buying 118.9 billion won and 121.1 billion won respectively in LG Electronics this month. This is in contrast to the fact that individuals sold 235.5 billion won in the same period. In the case of Samsung Electronics, the buying trend of individual investors was noticeable. Individual investors bought 2,2659.4 billion won worth of Samsung Electronics during this month, and 2,246.7 billion won worth of Samsung Electronics.
The securities industry predicts that LG Electronics and Samsung Electronics will continue to rise for the time being. LG Electronics and Samsung Electronics are raising their target prices and raising the rosy outlook. LG Electronics’ target price has been raised to around KRW 150,000. Meritz Securities presented a target price of 167,000 won, the highest among domestic securities companies. In addition, the stock price is raising the target price of Samsung Electronics to a maximum of 95,000 won.
Choi Bo-young, a researcher at Kyobo Securities, said, “When the VS division’s demand recovery, cost structure improvement, and production efficiency are reflected, sales of 18.22 trillion won and operating profit of 789.3 billion won are expected in the fourth quarter. As the business division turns to a surplus next year, expectations for a share price rise are growing.”
In addition, the industry is paying attention to the performance as it has begun to reflect the value of Samsung Electronics’ foundry. Yoo Jong-woo, a researcher at Korea Investment & Securities, said, “Samsung Electronics is still having difficulties in securing 5nm technology yield, but its share price is rising due to expectations of the growth of the foundry market. It will lead to further increase in business competitiveness and business value.”
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